The latest version of the vExchange dashboard, Fornax, has been released. The focus of this release is to improve performance. Enhancements include: Performance improvements across all reports making navigation quicker. Moved the SOL Ageing report to the new General Reports folder, where we place new reports coming up in future releases New "Record” column added to all panels in Account Details to quickly locate data. New "Phone Number" column added to the Debtor Info panel. Added Rules 113 and 114. Added a new Status Code Validity Report to the Tools folder, reporting which vExchange codes are currently accepted by the forwarder. Bug fixes [...]
There is a change to Collection-Master that affects everyone who posts balance adjustments via AutoPost. Balance adjustments posted using AutoPost have added an ADJ code to the Paperless File Notes. As of CM9.1F.014, released on March 31, 2021, the code will be changed to *ADJ to avoid conflict with documents called ADJ. What you need to do: If you intend to post new balance adjustment transactions via AutoPost, add a document code in Document Management [1-7] as follows: CODE DESCRIPTION *ADJ Balance Adjustment If you previously posted balance adjustments via AutoPost and have [...]
The video recording of The Mastermind Series Collection-Master AutoPost training session is now available on Vimeo. Access the PowerPoint presentation here. If you have any additional questions for the presenter or would like to suggest topics for future training sessions, send us an email. Make yourself a Mastermind!
A new policy, TRST:EDIT ACCT INFO, can now be set to block bank account editing by a user or a group. To enable the policy, go to Group Security Maintenance [4-1-S-3], and add TRST:EDIT ACCT INFO to all applicable users. The policy must be set to “N” to block editing access. Note: This will not affect user settings for switching bank accounts. If a user currently has access to switch a bank account they will continue to have that access.
For Resurgent Capital Services interface users: The last letter date in the Resurgent SUF file has been changed to export based on the Resurgent Matrix [4-2-1-6-1-X]. Matrix code DDOC will need to be set up in the Resurgent matrix for all Paperless File codes that need to export last letter date. With F010, the programming will be in effect and the last consumer date in the WOR record will be populated based on matrix configuration of the DDOC Action Code. A communication was sent on January 28, 2021, informing you of this change to allow you time to prepare your matrix. This [...]
Transaction Reversal Interest Change in 9.1F.010 What is the interest change? In version 9.1F.010, transaction reversals will now fully restore interest. How were transaction reversals previously functioning? Before version 9.1F.010, transaction reversals did not restore interest that should have accrued on the payment amount being reversed. The amount the interest was off was always in the consumer’s favor and usually a nominal amount. What does this change mean? The amount of interest that would have accrued on the claim and attributed to the reversed transaction from the original date of posting will be fully restored. How will I know [...]
Don’t forget to submit your remittance reports to vExchange! The CMvX remittance reports are separate from the daily CMvX export file. They are created as remittances, and are run and saved in CLSINC\EDI_FILES. To identify your CMvX remittance reports, simply look for a naming convention starting with CMVX and ending in .RMT, e.g., CMVX0009_20210127160628.RMT. The remittance reports need to be uploaded to vExchange the same way that the daily export files are uploaded.
We have been made aware the You’ve Got Claims Analytics and Reporting is currently behind due to an issue with the nightly import process. This did not affect yesterday’s mailman deliveries, only analytics and reporting 2/25 data. Our team is currently reprocessing; we expect the data analytics and reporting to be complete and current by tomorrow morning.
Resurgent Capital Services (RCS) has requested a change to the WOR record in the Servicer Update File (SUF) file. In a future update of Collection-Master, the WOR will report the last consumer document date instead of the last document date. The WOR record had not been changed yet to allow RCS servicing firms time to configure their matrix to identify consumer documents. As of 9.1F.004, the RCS Matrix has been enhanced with a new action code DDOC for Consumer Documents. Setup is required to identify all consumer documents and specify them in the Resurgent Capital Matrix with action DDOC. [...]
Have you recently upgraded Collection-Master and want to find out about all the new features? John Currey, Vertican’s Senior Vice President of Technical Services, explains them in his vSquare presentation, "What's New in Collection-Master?". Some of the topics covered: CM-EDI Auto Post All Flavors Payments on Linked Claims Write-Off Buckets Claim Security Other Goodies The video is available now on the Vertican Technologies Vimeo channel free of charge. View Now